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Retraces Feb-Mar Downleg

EURGBP TECHS
  • RES 4: 0.8498 High Dec 23
  • RES 3: 0.8478 High Feb 7
  • RES 2: 0.8432 High Feb 11
  • RES 1: 0.8418 Mar 9 High
  • PRICE: 0.8408 @ 17:14 GMT Mar 9
  • SUP 1: 0.8278/8203 Low Mar 8 / Low Mar 7 and key support
  • SUP 2: 0.8193 1.236 proj of the Feb 7 - 24 - 25 price swing
  • SUP 3: 0.8169 1.382 proj of the Feb 7 - 24 - 25 price swing
  • SUP 4: 0.8131 Low Jun 27, 2016

EURGBP traded higher into the Wednesday close, clearing key resistance at the Feb 25 high of 0.8406. This strength marks a 100% retracement of the most recent downleg between Feb 25 - Mar 7 and opens gains toward next resistance at the early February highs of 0.8432/78. Initial firm support is seen at Tuesday’s 0.8278 low.

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